FCA’s ‘Consumer Duty’ to better protect retail finance customers

Unhappy with the current level of consumer protection offered by retail financial markets, the FCA is calling for a new 'Consumer Duty' to meet customer standards. The regulator believes consumers rarely receive the products and services they expect, leaving their needs unfulfilled. This often leads to consumer harm, as products are not reflective of a fait value, and difficulty finding better deals. So, the FCA is supporting consumers by ensuring the retail finance industry understands its duties to them. This SimplyBiz consultation paper sets out the FCA's expectations, the impact on consumers...